INEOS Acquires BP’s Forties Pipeline System

INEOS has completed its acquisition of the Forties Pipeline System and associated pipelines and facilities from BP. The 235-mile pipeline system links 85 North Sea oil and gas assets to the UK mainland and INEOS’ site in Grangemouth, Scotland, delivering almost 40% of the UK’s North Sea oil and gas production. The associated pipelines and facilities acquired include the Kinneil gas processing plant and oil terminal, the Dalmeny storage and export facility, sites at Aberdeen, and the Forties Unity Platform.

“Our acquisition of the Forties Pipeline System and associated assets together with its highly skilled workforce is significant and strategic,” Andrew Gardner, CEO INEOS FPS said. “It demonstrates INEOS’ commitment to securing a competitive long-term future for this critical piece of oil and gas infrastructure and provides the platform to potential future offshore INEOS investments. We will bring our focus and proven track record on safety, reliability and excellence in operations and apply them throughout the FPS business.”